IMPORTANT NOTICE FOR LICENSEES THAT USE THE PULSE SYSTEM
Effective December 11, 2012, the PULSE system will automatically generate an e-mail to you when certain changes to your license status occur, if you have a current e-mail address for business use on file in the system. Please see the list of the events table (.pdf) that will generate an e-mail notification.
Changes take effect on 1/1/2015 will have an impact this year. Details are available here.
The Appraisal Subcommittee (ASC) of the Federal Financial Institutions Examination Council maintains the National Registry, a database containing information about real estate appraisers who are (or were) certified or licensed to perform appraisals in connection with Federally-related real estate transactions. The ASC collects a fee for each listed individual from each state in which the individual is certified or licensed. Minnesota law requires this fee to be collected in addition to the fees required for licensure as an appraiser. The Registry fee is currently $25 per year, but the ASC recently approved an increase that will raise it to $40 per year on January 1, 2012. Additional information on the National Registry is also available at https://www.asc.gov/National-Registry/NationalRegistry.aspx.
Trainee and supervisory real property appraisers are required to include additional information with each initial or renewal license application. Trainees must provide the name and address of their supervisory appraiser(s). Certified residential real property appraisers and certified general real property appraisers who intend to act in the capacity of a supervisory appraiser must provide the name and address of the trainee real property appraiser(s) that they intend to supervise. In addition, trainees must notify the Commissioner of Commerce in writing within ten days of terminating or changing their relationship with any supervisory appraiser. Supervisory appraisers must notify the Commissioner of Commerce in writing within ten days when the supervision of a trainee has terminated or when the trainee is no longer under the supervision of the supervisory appraiser. Certified residential real property appraisers and certified general real property appraisers may have no more than three trainees working under supervision at any one time.
To supply the required information, use the "Add Supervisor/Trainee" and "Remove Supervisor/Trainee" links at www.pulseportal.com.
Effective May 1, 2013, the technology surcharge is reduced to $25 [Minn. Stat. §45.24 (f)].
Minnesota law now requires any board or agency to assess a surcharge on all new licenses or registrations issued or renewed until June 30, 2015. Only those applicants already paying a current and separate Technology Surcharge are exempt from the new surcharge. The surcharge is 10 percent of the fee -- no less than $5 and no more than $150 -- on each business, commercial, professional, and occupational license or registration. This surcharge is being collected on behalf of the Minnesota Office of Enterprise Technology (OET) to fund a statewide electronic licensing system (M.S. 16E.22). It is identified on the Sircon and PULSE systems as the "OET surcharge." Please call 651-556-8005 for further information.
Changes impact real estate brokers and salespersons, appraisers, insurance producers and adjusters, prelicensing and continuing education providers. Take a few moments to review the information relevant to your particular license type or industry here. Also included are Frequently Asked Questions.